Economy

Earthquake of magnitude 7.5 shakes North India, epicentre in Afghanistan

A massive earthquake measuring 7.5 on richter scale on Monday jolted north India, with panic-stricken people rushing out of houses and buildings that shook during the temblor lasting almost a minute. The earthquake epicentred in the Hindukush mountain range in Afghanistan struck at around 2.40 PM, sending ripples across several states such as Jammu and Kashmir, Delhi- National Capital Region ... Read More »

India seeks to counter China dominance via Africa Summit

India started its biggest-ever Africa summit on Monday asPrime Minister Narendra Modi seeks to challenge China’s dominance on a continent that is blessed with vast natural resources and has the world’s fastest-growing population. The 3rd India-Africa Forum Summit kicked off in New Delhi with a meeting among the senior officials of the host nation and 54 countries from the African ... Read More »

Rupee ends lower by 13 paise to 64.96 against dollar

The domestic currency hovered in a range of 64.90 and 65.01 during the day. The dollar index was traded at 0.17 per cent lower in the late afternoon trade against a basket of six currencies. Meanwhile, the dollar lost some of its gains against the yen and the euro in Asia trade on Monday, with investors booking profit on recent ... Read More »

DBS sees FY16 GDP growth at 7.4 per cent with downside risks

India is expected to clock 7.4 per cent growth rate this fiscal with a downside risk amid weak exports, slow pace of structural reforms and investment spending, says a DBS report. According to the global financial services firm, though better production numbers and improved discretionary spending are encouraging for the country’s growth prospects, the capex cycle is yet to take-off ... Read More »

Price of pulses falls as govt intensifies crackdown against hoarding

The slide in prices of select pulses continued unabated at the wholesale market in the national capital on Friday following reports of raids by authorities on hoarders and the government’s decision to import more lentils to check prices. Traders said the government’s measures to curb soaring prices of pulses , including intensifying anti-hoarding operations, dragged down prices of select pulses ... Read More »

Remittances to India projected to increase by 2.5% in 2015, says World Bank

Remittances to India are projected to increase by 2.5 per cent this year, the World Bank has said in its latest report, even as weak economies in Europe, especially Russia, are slowing the growth of remittance flows. In 2014, India is estimated to have received remittances worth $70.3 billion. In its latest report, the World Bank said remittances to India, ... Read More »

PM Narendra Modi willing to speak to everyone on GST Bill: Arun Jaitley

Offering an olive branch to the Opposition to get the GST bill passed, Finance Minister Arun Jaitley today said that Prime Minister Narendra Modi is willing to speak to everyone to get the landmark indirect tax law through. Jaitley, who needs Parliament approval for the Goods and Services Tax (GST) Bill in the winter session to roll out the new ... Read More »

30 of 32 parties back GST bill: Govt claims, is hopeful of its passage

Government is hopeful of passage of the GST bill in the winter session of parliament claiming 30 of the 32 parties have supported it. Government is awaiting the response of Congress on the key legislation as it wants to take it along by addressing its concerns on the bill which is likely to be taken up in Rajya Sabha next ... Read More »

Finance Ministry extends deadline for comments on corporate tax reduction

In a bid to give stakeholders sufficient time to study the plan, the Finance Ministry has extended the deadline to give comments on the roadmap for corporate tax exemption by over three weeks till December 31. “We would like all stakeholders to study and give their views on draft exemption phase-out plan placed in public domain. “In order to give ... Read More »

Relaxation of FDI norms ‘absolute jugglery’ of words: CAIT

The recent liberalisation of FDI norms is “absolute jugglery” of words used to provide backdoor entry to foreign firms in retail segment under the pretext of wholesale cash and carry format and single brand retail, traders body CAIT alleged today. It said as per the DIPP’s press note the applicability of definition of “manufacturing” has been extended even to the ... Read More »